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Cambridge Journal of Economics Advance Access originally published online on December 21, 2005
Cambridge Journal of Economics 2006 30(5):687-700; doi:10.1093/cje/bei102
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© The Author 2005. Published by Oxford University Press on behalf of the Cambridge Political Economy Society. All rights reserved.

Article

‘Let your science be human’: Hume's economic methodology

Takeshi Nakano*

* Ministry of Economy, Trade and Industry (METI), Japan

Address for correspondence: New and Renewable Energy Policy Division, Ministry of Economy, International Trade and Industry, Kasumigaseki 1-3-1, Chiyoda-ku, Tokyo 100-8931, Japan; email: nakano-takeshing{at}meti.go.jp

Abstract

This essay examines David Hume's economic methodology. The author characterises Hume's understanding of human actions as interactionism. Its key point is that interactions generate the disinterested view of ‘the spectator’ in the human mind. Hume applies this idea of the disinterested spectator to the position of social scientists in understanding social phenomena. Thus Hume's approach to social science can be regarded as interpretive. The author also points out the difference between Hume's method in social science and historical study. Considering this difference, the author argues that we should refer to Hume's social theory rather than historical works in order to understand his economic methodology.

Key Words: Hume • Economic methodology • Spectator • Interpretive approach • History

JEL classifications: B1, B4

Manuscript received January 19, 2004; final version received May 3, 2005.


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